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Stocks - Tesla Sinks Midday; Netflix $100 off All-Time Highs

Investing.com - Shares of Tesla fell sharply midday on co-founder Elon Musk’s woes and its meeting with regulators next week. And weakness in semiconductor guidance led to a selloff in technology stocks.

Musk and Tesla’s board are set to meet with the Securities and Exchange Commission as early as next week about a tweet from Musk that said funding was secured to take the company private, according to a New York Times report. That could be interpreted by the SEC as an attack on Tesla short-sellers.

Musk told the Times that “this past year has been the most difficult and painful year of my career.” The report also suggested that efforts are underway to find a No. 2 executive to help take some of the pressure off Musk and that the board is concerned about his use of Ambien.